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More O'Ferrall, a London-based outdoor advertising company, is going all out to bid for the city's upcoming "street furniture" contract.
In October, the company bought Manhattan-based SHF Communications, which operates 65o bus shelters in Westchester County and Palm Beach County, Fla., for $4-5 million.
SHF, renamed Adshel Inc., has hired a prestigious architect to design its proposal and is busy setting up new offices in anticipation of an expanded staff.
More O'Ferrall isn't the only firm taking major steps to win the lucrative contract that could be worth as much as $900 million. More than 30 companies have expressed interest in bidding for the business in what is shaping up to be a fierce competition.
"This is a chance not just to make a nice chunk of money but to help reshape the face of the city," says Stephen Feinberg, chief executive of Adshel. "There's going to be a serious battle."
The stage for that struggle was set last week, when Mayor Rudy Giuliani and City Council leaders announced an agreement on a coordinated effort to improve New York's streetscapes. Under the plan, a private company will rebuild and add to the city's 3,300 bus shelters and 331 newsstands as well as set up at least 30 pay toilets. A request for proposals...